9 Months and Counting for Citadel Radio

Citadel just bought itself a little more time to avoid bankruptcy by renegotiating deals with lenders.

It isn't pretty.

May not even be doable.

Both the lenders and Citadel CEO Farid "Fagreed" Suleman have no choice. Bankruptcy is the likely end of Citadel and bankruptcy is absolutely the end for the lenders.

That's why both sides keep dancing with each other. They may not like their partners. May step on each other's toes, but they're all they've got right now.

Here's the latest:

1. For the fourth time in 12 months, Citadel has changed its finance agreements with lenders (the other times being&hellip